Guggenheim Issues Positive Forecast for argenx (NASDAQ:ARGX) Stock Price

argenx (NASDAQ:ARGX) had its price target hoisted by Guggenheim from $775.00 to $1,100.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on ARGX. William Blair restated an “outperform” rating on shares of argenx in a research note on Friday, February 28th. Oppenheimer raised their price target on shares of argenx from $675.00 to $704.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Truist Financial reaffirmed a “buy” rating and set a $700.00 price objective (up previously from $660.00) on shares of argenx in a research report on Tuesday, January 14th. Robert W. Baird raised their target price on shares of argenx from $650.00 to $680.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, HC Wainwright upped their target price on argenx from $717.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $687.00.

argenx Trading Down 3.9 %

ARGX stock opened at $571.00 on Monday. The firm has a 50 day simple moving average of $641.45 and a 200-day simple moving average of $594.49. The company has a market capitalization of $34.69 billion, a P/E ratio of -648.86 and a beta of 0.59. argenx has a twelve month low of $349.86 and a twelve month high of $678.21.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.60. argenx had a negative net margin of 2.11% and a negative return on equity of 1.45%. The company had revenue of $761.22 million during the quarter, compared to analyst estimates of $678.52 million. On average, research analysts predict that argenx will post 3.13 EPS for the current year.

Institutional Trading of argenx

A number of hedge funds and other institutional investors have recently made changes to their positions in ARGX. Brucke Financial Inc. acquired a new position in shares of argenx during the fourth quarter valued at approximately $412,000. Mackenzie Financial Corp lifted its position in argenx by 81.4% in the fourth quarter. Mackenzie Financial Corp now owns 4,449 shares of the company’s stock worth $2,736,000 after purchasing an additional 1,996 shares during the period. GF Fund Management CO. LTD. bought a new position in argenx during the 4th quarter valued at $416,000. Vise Technologies Inc. increased its position in shares of argenx by 6.8% during the 4th quarter. Vise Technologies Inc. now owns 799 shares of the company’s stock valued at $491,000 after purchasing an additional 51 shares during the period. Finally, Voloridge Investment Management LLC bought a new stake in shares of argenx in the 4th quarter worth $28,510,000. 60.32% of the stock is currently owned by institutional investors.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.